Automation Anywhere closes colossal $290m Series B

Automation Anywhere, a robotic process automation (RPA) solution provider has secured $290m in a colossal Series B round.

The funding round brings its valuation up to $6.8bn.

Salesforce Ventures led the round, with additional contributions coming from previous backers Softbank Investment Advisers and Goldman Sachs.

Capital from the round will be used to accelerate the development of its automated services and improve human-to-bot collaboration.

The company helps businesses across the financial services, insurance, life sciences, public sector, manufacturing and telecom industries with their various business processes.

Financial services use the platform to enhance their AML and KTC compliance by automating the data management activities and boost the detection and prevention of fraudulent transactions.

The company also helps automate processes such as account opening and closing, payment processing and customer data updates, as well as analyse structured data files to boost underwriting.

Automation Anywhere CEO and co-founder Mihir Shukla said, “Never before has there been such a transformative shift in the way we work, with artificially intelligent software bots changing how people, processes and technology interact for productivity gains.

“This new funding reinforces the promise of the RPA category and empowers our customers to achieve greater business agility and increased efficiencies by automating end-to-end business processes – bridging the gap between the front and back office.”

The funding comes a year after Automation Anywhere collected $550m in its Series A round which was backed by SoftBank Investment Advisers, General Atlantic, Goldman Sachs, NEA, World Innovation Lab, and Workday Ventures.

Copyright © 2019 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.